Invesco Ltd. Has $808.79 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Key Points

• Invesco Ltd. significantly increased its stake in Microchip Technology by 63.0%, owning 16,707,031 shares worth approximately $808.79 million as of the latest SEC filing.
• Microchip Technology's recent quarterly earnings report showed an EPS of $0.27, surpassing estimates of $0.24, although revenue was down 13.3% year-on-year.
• The company announced a quarterly dividend of $0.455 per share, with an annualized yield of 2.9%, set to be paid on September 5th.

Invesco Ltd. increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 63.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,707,031 shares of the semiconductor company's stock after purchasing an additional 6,459,123 shares during the period. Invesco Ltd. owned approximately 3.11% of Microchip Technology worth $808,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MCHP. Vanguard Group Inc. increased its stake in Microchip Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company's stock worth $3,354,940,000 after acquiring an additional 390,269 shares during the period. Goldman Sachs Group Inc. increased its stake in Microchip Technology by 138.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company's stock worth $427,681,000 after acquiring an additional 5,136,154 shares during the period. Northern Trust Corp increased its stake in Microchip Technology by 4.7% during the 4th quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company's stock worth $399,070,000 after acquiring an additional 311,796 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Microchip Technology by 273.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock worth $306,541,000 after acquiring an additional 3,912,895 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Microchip Technology by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,266,402 shares of the semiconductor company's stock worth $158,127,000 after acquiring an additional 122,633 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 6.6%

Shares of MCHP stock opened at $61.87 on Friday. The firm has a market capitalization of $33.39 billion, a P/E ratio of -181.97, a P/E/G ratio of 1.79 and a beta of 1.55. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $82.87. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. The stock's fifty day simple moving average is $69.65 and its 200 day simple moving average is $58.10.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.33% and a negative net margin of 3.50%. Microchip Technology's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.9%. Microchip Technology's payout ratio is presently -18,200.00%.

Insider Activity

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the transaction, the director owned 3,468 shares in the company, valued at approximately $210,472.92. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the transaction, the chief financial officer owned 34,313 shares of the company's stock, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. The Goldman Sachs Group started coverage on Microchip Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $88.00 price objective on the stock. Mizuho lifted their price target on Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Rosenblatt Securities lifted their price target on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Raymond James Financial lifted their price target on Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently has an average rating of "Moderate Buy" and an average target price of $76.58.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.